The New York Times had an excellent piece this morning on the fact that sellers are increasingly offering substantial non-price concessions in order to move their homes. As the article notes (and has been mentioned repeatedly on BTP) these concessions are not recorded in the sale prices that enter the standard house price indexes. Therefore these indexes are missing some of the price decline in recent months.
I promised a BTP goat prize to articles commenting on housing prices that did not note this seller side concession issue. In the future, such articles will get a BTP-NYT goat prize.
You need to be logged in to comment.
(If there's one thing we know about comment trolls, it's that they're lazy)